Perimeter Security Market size in North America grow by USD 9,657.51 million from 2022 to 2027, The high demand from financial institutions to drive market growth - Technavio

NEW YORK, May 18, 2023 /PRNewswire/ -- The perimeter security market in North America size is forecast to increase by USD 9,657.51 million from 2022 to 2027. The market is estimated to grow at a CAGR of 7.85%, according to a recent market study by Technavio. The growth of the market will be driven by the high demand from financial institutions, the rising adoption of cloud solutions, and technological advances in security systems. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including Advanced Perimeter Systems Ltd., Canon Inc., Fiber SenSys Inc., Honeywell International Inc., Johnson Controls International Plc, Motorola Solutions Inc., Panasonic Holdings Corp., Pivotchain Solution Technologies, Prisma Photonics Ltd., PureTech Systems Inc., Rbtec Inc., Robert Bosch GmbH, SCYLLA TECHNOLOGIES INC., Senstar Technologies Ltd., SightLogix Inc., Southwest Microwave Inc., Teledyne Technologies Inc., Thales Group, United Security, and Zhejiang Dahua Technology Co. Ltd.

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Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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The market is segmented by Product (Surveillance systems, Access control systems, and Alarms and notification systems) and Service (System integration and consulting, Risk assessment and analysis, Managed security services, and Maintenance and support)

Perimeter Security Market - Segmentation 

This perimeter security market report in North America extensively covers market segmentation by product (surveillance systems, access control systems, and alarms and notification systems) and service (system integration and consulting, risk assessment and analysis, managed security services, and maintenance and support). 

• The market share growth by the surveillance systems segment is significant during the forecast period. Countries like the United States, Canada, and Mexico are seeing an increase in the adoption of surveillance systems due to their proactive stance on ensuring public safety. Owing to numerous terrorist attacks and criminal activity in these countries, various laws and regulations have been enacted for security reasons. 

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Market Dynamics

Drivers

• The high demand from financial institutions is significantly driving the North America Perimeter security market growth. 
• The market is becoming necessary for banks and financial institutions to combat theft through theft-related activities.
• A perimeter security system examines all internal and external network activity and identifies patterns within the system that indicate a data breach and provides a range of security services, from basic firewall protection to end-to-end security.

Challenges

• The high implementation costs of perimeter security systems are challenges impeding the North America Perimeter security market growth. 
• Perimeter security systems are expensive to implement because hardware, software, and support are expensive.
• The installation costs include paying for wire, cable, and electrical components, installation costs, as well as labor to install the perimeter security system.
• Hence, such high costs impede the market growth during the forecast period.

What are the key data covered in this Perimeter Security Market In North America report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the perimeter security market in North America between 2023 and 2027
• Precise estimation of the size of the perimeter security market in North America and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Perimeter Security Market across North America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of perimeter security market in North America vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Service
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 

SOURCE Technavio